Title:Do expectations matter? : the great moderation revisitedAuthor(s):CANOVA, Fabio; GAMBETTI, LucaDate:2010Citation:American economic journal : macroeconomics, 2010, Vol. 2, No. 3, pp. 183-205Type:ArticleAbstract:We examine the role of expectations in the Great Moderation episode. We derive theoretical restrictions in a New-Keynesian model and test them using measures of expectations obtained from survey data, the Greenbook and ...

Title:Can Stabilization Policies Be Efficient?Author(s):SAIDI, AurélienDate:2009Type:Working PaperSeries/Number:EUI ECO; 2009/01Abstract:This paper makes use of optimal control relaxed problems to prove the absence of optimal trajectory in continuous time models with social increasing returns to scale where indeterminacy occurs. Although an efficient optimal ...